No more stimulus package: Montek Singh Ahluwalia

NEW DELHI: Planning Commission Deputy Chairman Montek Ahluwalia on Tuesday ruled out any more stimulus package for industry as the Budget has given a substantial boost to the slowing economy.

"The Budget includes a very stringent boost, plan expenditure and investment ... We don't need any more stimulus packages," Ahluwalia told reporters here.

"We should concentrate on implementing what is there," he said.

The Government has cut excise duty by six per cent and service tax by two per cent in three stimulus packages. Besides, the fourth stimulus package was given in the Budget for 2009-10.

About monsoon, he said, "Monsoon has improved; there was deficient rainfall but deficiency was more earlier -- it has reduced now, (and) the monsoon has not ended yet, I think we should wait and see the entire month of July."

He said if there is continuous improvement in July, the situation will not be that bad.